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(Reuters) – Italian truck and bus maker Iveco Group said on Wednesday that it will sell its unit that produces firefighting vehicles to German private equity fund Mutares. As a result of the transaction, the deal value for which was not disclosed, Iveco’s 2024 results will be negatively impacted by about 115 million euros ($125.9 …

Italy’s Iveco Group to sell fire trucks unit to German fund Mutares Read More »

By Foo Yun Chee STRASBOURG (Reuters) -Europe moved closer to adopting the world’s first artificial intelligence rules on Wednesday as EU lawmakers endorsed a provisional agreement for a technology whose use is rapidly growing across a wide swathe of industries and in everyday life. Three years in the making, the AI Act comes as generative …

Europe one step away from landmark AI rules after lawmakers’ vote Read More »

(Reuters) – Tobacco giant Altria said on Wednesday it plans to sell 35 million shares of the world’s largest brewer Anheuser-Busch InBev. As of last close, the share sale is worth 2.06 billion euros ($2.25 billion), according to Reuters calculations. ($1 = 0.9136 euros) (This story has been refiled to correct the day to Wednesday, …

Altria plans to sell 35 million AB InBev shares Read More »

By Carolina Mandl and Davide Barbuscia BOCA RATON, Florida (Reuters) -London Stock Exchange Group’s London Clearing House (LCH) business is considering expanding into clearing U.S. Treasuries, its head of Americas John Horkan said on Wednesday, as competition in the market looks set to increase. Currently, the Fixed Income Clearing Corporation, a subsidiary of trade processor …

LCH looking at clearing US Treasuries, competition set to increase Read More »

By Simon Jessop, Virginia Furness and Ross Kerber LONDON / BOSTON (Reuters) -A U.N.-backed banking climate coalition on Wednesday released updated guidance for members requiring them to disclose more about how they plan to cut carbon emissions, including from their capital markets activities. The Net-Zero Banking Alliance (NZBA), whose 143 members oversee $74 trillion in …

Bank climate group to report capital markets related emissions Read More »

(Reuters) -Activist investor Tribeca Investment Partners has called on Glencore to shift its primary listing from London to Sydney and abandon a plan to spin off its profitable coal business, the Financial Times reported on Wednesday. Tribeca wrote to the Swiss commodity giant’s board this week with a list of proposals, including moving its listing …

Activist Tribeca asks Glencore to move main listing to Sydney, FT reports Read More »

WARSAW (Reuters) – Polish state-controlled refiner Orlen said on Wednesday its 2023 net profit would increase by about 5.8 billion zlotys ($1.48 billion) due to an accounting one-off related to cash flow hedging. Orlen said the impact is due to its discontinuing the use of cash flow hedging accounting related to its contract to buy …

Poland’s Orlen sees one-off increasing 2023 net profit by about $1.48 billion Read More »

MOSCOW (Reuters) -Russian President Vladimir Putin signed a decree on Wednesday to remove Danone’s Russian business from a list of assets placed under temporary Russian state management. The Financial Times reported in February that a Russian businessman who flaunts his pro-war credentials on Instagram was planning to take over the Russian assets of the French …

Putin removes Danone’s Russian unit from temporary state management Read More »

BRUSSELS (Reuters) – The European Parliament approved on Wednesday tougher emissions standards for some vehicles in a deal that watered down the initial European Union proposal, following objections from some member states. The new rules maintain the status quo for limits on pollutants including nitrogen oxides and carbon monoxide for cars and vans, but set …

EU Parliament approves compromise on vehicle pollution limits Read More »